Wireline Services Market Size, Share and Global Trend By Type (Electric line, Stick line), By Well Type (OpenHole, CasedHole), By Application (Wireline Logging, Wireline Intervention, Wireline Completion), By Location (Onshore, Offshore), and Geography Forecast till 2026
The global wireline services market is likely to grow in the coming years with impetus from a rise in the number of gas and oil exploration activities that have been taking place across the globe. According to a report published by Fortune Business Insights, titled, “Wireline Service“: Global Market Analysis, Insights, And Forecast, 2018-2026”, the global wireless services market is projected to reach US$ 14,359.22 Mn by the End of 2026. Fortune Business Insights has predicted that the market will rise from its 2018 valuation of US$ 9,778.72 Mn at a CAGR of 4.92%.
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Top Players
There has been increased production of shale gas at offshore locations. Also, deep wells are drilled at a fast pace. These two factors are mainly anticipated to boost the global wireline services market throughout the forecast period.
Rise in Demand for Wireline Services to Create Growth Opportunities in North America
Geographically, the global wireline services market is divided into Asia Pacific, North America, the Middle East and Africa, Europe, and Latin America. Amongst these regions, the U.S. currently holds the major share of the global wireline services market. The region is followed by countries of the Middle East and China. North America held the largest share of wireline services market in 2018 and the region is projected to witness notable growth during the forecast period.
This is mainly because of the boom in shale gas in the U.S.A. which has resulted in an increasing demand for wireline services. Moreover, North America has planned numerous drilling projects that are yet to take place in Canada and the U.S.A. throughout the forecast period. All these factors are anticipated to lead the region in the wireline services market.
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Segmentation
1. By Service
2. By Well Type
3. By Application
4. By Location
5. By Geography
Key Industry Developments
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Wireline Services Market Landscape and Market Scenario Includes:
Ability to Determine the State of Cement Likely to Boost Cased Hole Segment
The report classifies the global wireline services market into five segments, namely, by application, by service, by well type, by geography, and by location. By application, the market is further divided into well completion, well logging, and well intervention. By service, the market is grouped into slick line and electric line. Electric line segment has recently become the most popular one because they serve the purpose of avoiding capital wastage and in turn, improves the efficiency of exploration.
Thus, the segment is projected to drive the market in the coming years. In terms of well type, the market is classified into a cased hole and open hole. The global wireline services market will be dominated by the cased hole segment by the end of 2026. This is likely to occur because the cased hole offers several advantages, such as determining corrosion, perforation, and the state of cement. Onshore and offshore are the two divisions of the location segment.
Queries Addressed In Market Report:
BASF, Halliburton, and Other Key Players’ Focus on Strategic Investments and Product Launches to Favor Growth
Trump administration released a plan in April to open more than one million acres of private and public land in California. The lands will be used for fracking and oil drilling. This initiative is anticipated to propel the wirelines services market. The plan would end a five-year moratorium on renting federal land in California. BASF, a German chemical company with its rival DEA, merged a deal to form the largest independent gas and oil company in Europe in May 2019.
This is likely to increase the number of oil and gas exploration activities in and around Europe, and in turn, will help the wireline services market to grow. Halliburton, an American multinational corporation, launched their new product called Elect frac sleeve in April 2019. The product allows unlimited stage count in multistage fracturing operations. It is a monobore sleeve solution.
Important Features that are under Offering and Key Highlights of the Market Report:
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Key Features of Market Research Report:
Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.
Table of Content
5. Global Wireline Services Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings
5.2. Market Analysis, Insights and Forecast By Service
5.2.1. Slick Line
5.2.2. Electric Line
5.3. Market Analysis, Insights and Forecast By Well Type
5.3.1. Open Hole
5.3.2. Cased Hole
5.4. Market Analysis, Insights and Forecast By Application
5.4.1. Wireline Completion
5.4.2. Wireline Intervention
5.4.3. Wireline Logging
5.5. Market Analysis, Insights and Forecast By Location
5.5.1. On shore
5.5.2. Off shore
5.6. Market Analysis, Insights and Forecast By Region
5.6.1. North America
5.6.2. Europe
5.6.3. Asia Pacific
5.6.4. Middle East and Africa
5.6.5. Latin America
6. North America Wireline Services Market Analysis, Insights and Forecast, 2015-2026
6.1. Key Findings
6.2. Market Analysis, Insights and Forecast By Service
6.2.1. Slick Line
6.2.2. Electric Line
6.3. Market Analysis, Insights and Forecast By Well Type
6.3.1. Open Hole
6.3.2. Cased Hole
6.4. Market Analysis, Insights and Forecast By Application
6.4.1. Wireline Completion
6.4.2. Wireline Intervention
6.4.3. Wireline Logging
6.5. Market Analysis, Insights and Forecast By Location
6.5.1. On shore
6.5.2. Off shore
6.6. Market Analysis, Insights and Forecast By Country
6.6.1. U.S.
6.6.2. Canada
7. Europe Wireline Services Market Analysis, Insights and Forecast, 2015-2026
7.1. Key Findings
7.2. Market Analysis, Insights and Forecast By Service
7.2.1. Slick Line
7.2.2. Electric Line
7.3. Market Analysis, Insights and Forecast By Well Type
7.3.1. Open Hole
7.3.2. Cased Hole
7.4. Market Analysis, Insights and Forecast By Application
7.4.1. Wireline Completion
7.4.2. Wireline Intervention
7.4.3. Wireline Logging
7.5. Market Analysis, Insights and Forecast By Location
7.5.1. On shore
7.5.2. Off shore
7.6. Market Analysis, Insights and Forecast By Country
7.6.1. UK
7.6.2. Germany
7.6.3. France
7.6.4. Italy
7.6.5. Norway
7.6.6. Russia
7.6.7. Rest of Europe
8. Asia Pacific Wireline Services Market Analysis, Insights and Forecast, 2015-2026
8.1. Key Findings
8.2. Market Analysis, Insights and Forecast By Service
8.2.1. Slick Line
8.2.2. Electric Line
8.3. Market Analysis, Insights and Forecast By Well Type
8.3.1. Open Hole
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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